Economic crises always create opportunities for those who can take advantage of them. Many folks are worried about a possible inflationary future, but there are many things -- bigger-ticket luxuries such as vacation homes and boats, for example -- selling at steep discounts to recent prices. In most cases, the story is simple: There are just too many overextended people trying to cut back, and not enough buyers stepping in.

Because I'm a car geek, one indicator I watch is the used Ferrari market. One model I've long admired is the Ferrari 456 GT, a 1990s-era V12-powered beast with achingly beautiful (to me, anyway) lines. A lot of modern Ferraris are garish, but this one ... wow.

Ahem.

Anyway, 456 GTs cost more than $200,000 new, but all new cars depreciate, and these models seemed to settle, a few years back, at around $75,000. That's where most car-market watchers expected them to stay, and since even that is more than I'm likely to spend on an automotive toy, I never really expected to own one.

But things change ...
But I recently saw one on eBay with a "Buy It Now" price of $40,500. A nice one. And I've seen several others sell in that price range recently. Nice ones. If I hadn't just bought a new house, spending a considerable portion of our family's savings in the process, I'd be tempted. (Actually, who am I kidding? That's not a temptation I'd fight for very long.)

Right now, though, it just wouldn't be a Foolish move -- we've got other financial priorities at the moment, and I'm too debt-averse to take a loan to buy a toy. But the economy has created some Foolish buying opportunities that I am considering -- and one in particular that I urge you to take a look at as well.

A unique investing opportunity
Anyone who has ever researched actively managed mutual funds knows that there are good funds, there are bad funds ... and there are a very few great funds. Some of those great funds are well known -- American Mutual Fund (AMRMX), Vanguard Windsor II (VWNFX), and a couple of Fidelity and T. Rowe Price offerings come to mind. Others are lesser known, almost insider secrets -- the wonderful Sound Shore (SSHFX), for instance, a smallish fund currently trolling large-cap value waters with stocks such as Boston Scientific (NYSE: BSX) and Time Warner (NYSE: TWX).

Many great funds were closed in recent years, as capital appreciation and new inflows swelled them up to nearly unmanageable sizes. But just as with Ferraris and beachfront houses, the market slump has led a few of these legends to shrink in value -- and to reopen. Continued...